资本市场压力与企业策略性专利行为:卖空机制的视角

创新是一种不确定性高且周期长的投资活动,需要风险偏好更大、对失败容忍更高的市场环境,而资本市场具有筛选和发现创新型企业、有效分散创新风险的功能,因而对创新活动起着关键作用。然而,中国资本市场短期投资者比例高,融券交易成本高且交易不活跃,加上专利评价体系对不同质量的专利区分度较低,导致资本市场压力对创新活动没有发挥出信息机制和治理机制两种效应。相反,资本市场压力带来的负面信息表达渠道和管理层短期业绩压力,造成了中国专利申请中存在“重数量、轻质量”“重申请、轻维护”的企业策略性专利行为所衍生的“专利泡沫”问题。本文采用中国融资融券制度作为准自然实验,考察卖空机制对企业创新的影响效应和作用机理。研究发现,企业面临卖空压力时会更加积极地申请专利,但专利的申请质量有所下降,表现为专利授权率降低;专利结构有所恶化,最终授权数增加的主要是容易研发、授权快的实用新型专利和外观设计专利;专利得到授权后,企业放弃缴纳维持费用以终止专利权。这些策略性专利行为在短期内可以减少企业的卖空交易量,推高企业市值,但长期看对企业的业绩没有积极影响,是一种“创新假象”。卖空机制主要通过施压机制来影响企业创新,管理层业绩压力、外部监督压力、股价信息传递压力越大的企业,在面临卖空威慑时更有动力进行策略性专利行为。为促进企业创新向高质量发展,需要进一步完善融资融券制度和专利评价体系。     

产业融合中的市场结构及其行为方式分析

在产业融合中 ,随着融合产品的替代性和互补性大大增强 ,市场边界发生重大游移。这不仅给市场界定带来了新的问题 ,并使以其为基础的产业集中度的衡量变得更为复杂 ,而且也在很大程度上改变了传统市场结构的形态 ,增强了竞争效应 ,并促使企业的市场行为有较大的改变。这对传统产业组织理论提出了新的挑战 ,需要我们加以认真的研究 ,提出新的解释和说明     

企业的产业市场结构分析

一、企业产业市场结构的内涵一般认为，企业市场环境表现为宏观环境、产业环境两个基本层次。鉴于产业环境对企业战略的直接、现实影响，其一般作为市场环境分析的重点。传统的产业环境因素分析法强调企业外部存在的影响因素及其发展、变化所带来的机会与威胁，不涉及这些因素间相互关系的研究。而以系统的观点看，市场环境系统要素在系统中的地位和作用往往是不同的，系统常表现出序列性、层次性等结构特征，而系统的结构特征又决定了各因素对企业影响的大小和方式。因此，对产业环境的分析需要运用结构化方法，辨析影响因素间的差异性和相…     

领先市场转移动因分析

由于领先市场的企业可以通过学习获得持续的竞争优势,因此,一个国家的领先市场地位具有一定的持久性.然而,当制度环境和产业竞争态势发生变化时,一个国家的领先市场地位可能发生转移.本文探讨了领先市场转移的内涵,从扩散理论、产业组织理论和内生增长理论等角度对领先市场转移的动因进行分析,并对其带给我们的启示意义进行探讨.     

技术创新对经典寡占市场企业行为的影响分析

技术创新对经济发展的影响是决定性的,而其影响机制主要是通过技术作为一种变量带来产业组织演进后的系列传导作用.同时,预期的创新对市场结构与企业行为也有着策略决定的意义.本文主要通过研究技术创新的发生对寡占市场下产量、价格与利润等因素的均衡变化,试图从理论上揭示创新与寡占市场的内在联系以及对寡头行为决策的影响.     

区域创新系统中地方政府行为分析

从地方政府角度阐述区域创新系统内涵,通过对区域创新系统构成入手,了解不同主体之间存在的联系与依存关系,进而分析了地方政府在区域创新系统中的作用,并以此为基础,对地方政府行为进行了研究.     

卡车企业布局LNG市场

对于2012年的卡车市场来说,"惨淡"、"萧条"是挥之不去的阴影。在这样的阴影之下,LNG卡车是难能可贵的一抹亮色。LNG卡车市场的红火吸引了各方注意,各卡车生产企业也纷纷瞄准LNG市场。重汽:最佳整车匹配实现效益最高重汽LNG车辆搭载的重汽天然气发动机是其与美国Econtrols公司联合开发设计的、拥有完全自主知识产权的、具有当代世界先进水平的新一代电控、稀薄燃烧、天然气发动机。"重汽的技术领先战略使得我们的产品平台越来越高,具备较高的技术先进性。     

我国商品市场中不同所有制企业运行状况分析

在商品市场上我国所有制结构日趋多元化,国有企业、外资企业、民营企业等多种所有制市场主体共同竞争的格局进一步形成。不同所有制类型企业在我国商品市场中表现出不同的运行状态,对商品市场运行中价格变化以及市场流通秩序的影响存在差异,因而要求对不同所有制类型企业也要采取不同的调控措施和手段,以促使其在商品市场上获得更好的发展。     

新一代电力市场技术支持系统

实施厂网分开,重组发电和电网企业;实行竞价上网,建立电力市场运行规则和政府监督体系,是电力体制改革的主要任务之一。在建立竞争、开放的电力市场过程中,必将对技术支持系统提出全新的要求。本文介绍了电力市场技术支持系统的发展概况和新一代电力市场技术支持系统的框架及设计思路,可供广大读者参考。     

工程项目主体行为与非系统风险的博弈分析

运用博弈论的思想和方法及委托代理理论来揭示非对称信息条件下，工程项目融资中以逆向选择问题和道德风险为内因的非系统风险。构建承建商与业主之间不完全信息静态模型、承包商和监理单位之间的不完美信息动态博弈模型，分析建筑市场主体间的利益关系，从而进行机制设计，寻求防范和控制风险的具体途径。     

Structure and Profitability in Banking Markets

We use the structure-performance model and regression analysis to investigate a number of analytical issues that often arise in evaluating competition in connection with bank mergers and that are generally relevant to mergers in other industries. Perhaps our most consistent and strongest finding is that the local market HHI is positively and significantly related to profitability. We also find that the number of organizations and the level of recent deposit growth may provide some additional information on the level of competition. Finally, several variables including market size, the number of large banking firms, deposits per office, and resident migration rates exhibit similar relationships to profitability in the bivariate analysis, suggesting that there may be some characteristic associated with market size, density, or attractiveness that is important for competition.     

策略性行为理论研究

新产业组织理论研究的焦点是策略性行为，本文从短期、中期、长期三个层面系统梳理和评述了西方策略性行为理论前沿，旨在为研究企业的竞争行为提供有效工具．深化对复杂交易现象背后的动机和福利效果的理解，同时也为政府制定保护竞争、促进竞争的公共政策提供坚实的理论基础。     

Prices and Departures in European Domestic Aviation Markets

Using data on 172 domestic city-pair markets in eight European countries, weinvestigate the effect of the market structure on airlines choices of departuresand prices. We find that flag carriers have a higher number of departures thanother airlines and that it is more likely that flag carriers are monopolists. At thesame time flag carriers do not have a higher ticket price than other airlines. Theinfluence of market power, measured with the Herfindahl index, does not havea significant effect on ticket prices, but a significant effect on the number ofdepartures: decreased market concentration and an increased number of airlinesresults in increased aggregate frequencies. Comparing the predicted ticket prices,at sample mean, between monopoly and non-monopoly routes we can reject thehypothesis of differences in equilibrium price. However, the predicted aggregatenumber of departures, calculated at sample mean, is significantly higher at non-monopoly routes compared with monopoly routes.     

航油企业战略管理

为迎接即将到来的竞争挑战，航空油料企业应在对自身优势和劣势，航油市场进入障碍和竞争性进行全面分析的基础上，制定科学的发展战略，这是企业谋求长远发燕尾服的必然选择，航油企业在战略制定过程中应讲求战略的适应性，协同性，连续性和柔性，在战略选择时应分别从公司层，经营层和职能层入手确定满足航油企业未来发展要求的战略内容，在战略实施时应建立支持企业战略管理的组织结构、管理机制和文化，避免依靠主观意愿，推断和危机实施战略管理，确保战略的有效实施。     

Strategic interaction in alliances

Research summary: This article studies strategic interactions between firms that form alliances to exploit synergistic benefits. Firms cooperate to create value, but they can also compete to capture value. Fundamental questions rarely addressed by strategy scholars relate to how the configuration of control over resources influences firms' strategies, the potential for termination, and the emergence of cooperation and trust. The formal results reveal crucial aspects of the interorganizational rent‐generating process and yield testable implications. With greater synergistic benefits, firms invest more, but they also compete more intensively to capture more value. With symmetric control, more value gets created, which limits the potential for termination, but also exacerbates the competition for value; from a relational perspective, this form of control augments the calculative rationale of cooperation and trust . Managerial summary: When forming an alliance to exploit synergies, firms engage in a complicated strategic interaction that is part cooperation and part competition. What happens when partner firms cooperate and invest to create value while competing and using costly adversarial tactics to capture value? The analysis reveals that with greater synergistic benefits, firms invest more in value creation, but the fear of opportunism pushes them to waste more resources on value capture tactics. The balance between value creation and value capture, and the possibility that the alliance is terminated depend on the configuration of control over resources. The analysis further reveals under what conditions there can be trust between the partners, such that they focus on value creation and avoid wasting resources in the competition for value . Copyright © 2016 John Wiley & Sons, Ltd.     

质量管理体系贯标在测录井企业闯市场中的作用

分析了质量管理体系标准对于测录井施工作业企业闯市场的重要性．阐述了质量管理在企业生产、管理活动中的作用．明晰了质量管理体系对企业识别甲方需求、提高产品和服务质量的重要作用．通过大量翔实的资料和相关数据．说明质量管理体系贯标对测录井施工作业的产品质量提高发挥的作用。     

Competition in Grocery Retailing: The Impact of a New Strategic Group on BLS Price Increases

Metropolitan areas with a significant presence of warehouse stores had lower retail food price increases during 1977 to 1992 than did areas with no warehouse stores. The negative impact occurred largely during the first half of the 15-year period. Strategic learning appears to have led to a different response from incumbent supermarkets during 1985–1992. Change in prices was positively related to change in concentration and negatively related to entry.     

浅议施工企业战略成本管理

随着市场竞争的加剧,国内施工企业亟待采取战略成本管理来适应竞争环境变化。施工企业为降低成本、增加盈利,开发内部潜力,应在企业成本管理中从竞争战略的角度出发,通过战略成本预测、战略成本决策、战略成本计划与预算、战略成本控制和战略成本管理业绩评价等几个方面,规范施工企业内部成本管理工作,以期实现企业长远的战略成本目标。     

不确定环境下企业战略变革主导逻辑新范式

企业战略变革是不确定环境下企业“做大做强”和“永续发展”的重要生存法则。而战略变革主导逻辑范式作为企业战略变革问题研究的核心与关键，在传统范式受到挑战的新形势下，呼唤新的战略变革逻辑范式。本文在对战略变革主导逻辑研究的相关概念与思维观念界定的基础上，构建了“战略变革主导逻辑范式分析框架”，并具体提出了“战略先应式”、“战略反应式”、“战略后应式”与“战略因应式”四种战略变革主导逻辑范式。     

Performance Differences in German Higher Education: Empirical Analysis of Strategic Groups

Initial investments and different strategic actions of universities lead to their different positions in the higher education sector. Pursuing similar strategies leads to similar positions that influence structure and performance within the system. Institutions cannot only choose to focus on research or on teaching, but also to focus either on natural sciences or social sciences. Using 73 public universities in Germany, this paper examines the existence of strategic groups based on performance. Common strategic variables only partly determine performance in high and low efficiency groups.